UAE becomes a growing business, brand hub, followed by Saudi Arabia

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A general view of a shopping mall in Sharjah displaying some of the finest brands. (WAM)
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  • The UAE and Saudi Arabia have been developing infrastructure on par with developed nations to attract businesses from around the world
  • Dubai is also great for businesses from the rest of the globe because it is relatively simple to register a property, obtain building licenses, and enforce contracts

Dubai, UAE – The United Arab Emirates is becoming a magnet for international brands which are making a beeline to set up a base in the country. According to the data from the Ministry of Economy, the UAE registered 14,346 new trademarks in the first nine months of 2022, an increase of 3.4 percent compared to the same period in 2021, when 13,878 trademarks were registered. 

In September alone, 1,109 new trademarks were registered, further solidifying the nation’s status as a regional and international business hub.

Business-friendly

In order to draw firms from around the world, the UAE and Saudi Arabia have been working hard over the past few years to build infrastructure comparable to that of industrialised nations. This has boosted the country’s competitiveness, as noted in reports published by various international organizations.

The newly registered trademarks cover not only public and private corporations from all over the world but also businesses in the service and commodity industries. According to the ministry of economy, the newly registered trademarks cover a wide range of industries, including but not limited to e-commerce, communications, technical solutions, technology; the travel and tourism industries; automotives; construction, health care, fashion, and many more.

Why the UAE?

First, it’s simple to relocate. Also, businesses moving to the UAE can get assistance from relocation specialists, whether moving an existing company or starting a new one.

Free zones are another reason. Business owners and entrepreneurs in Dubai can set up their operations on the mainland, or in one of the city’s several freeports. In addition, maintaining full foreign ownership is permitted in free zones.

Dubai is also a tax haven with no direct taxes on corporate earnings and personal income. It has low customs fees with several exemptions and complete repatriation of capital and profits.

Dubai is also great for businesses from the rest of the globe because it is relatively simple to register a property, obtain building licenses, and enforce contracts. Adding more to its attraction is that Dubai sits at a geographical crossroads – a link between the Middle East, the rest of Asia, Europe, and Africa. As a result, doing business with companies in these regions is far more accessible.

Saudi Arabia comes second

After Dubai, Riyadh is considered the second-best destination in the Middle East for international luxury brands. 

The Saudi Arabian market, however, is seen as the region’s most dynamic, according to a report published by Bain & Company in May 2022. The Kingdom’s luxury sector continues to grow swiftly, with sales of high-end goods expected to hit US$ 22.2 billion by 2024, a figure that would represent an average annual growth rate of 7.2 percent from 2019 to 2024.

Saudi Arabia is becoming the new national headquarters for many companies, with full-fledged operations based there and no longer dependent on the Dubai branch. As a result, there’s more action on the ground and more opportunities for brands.

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